Genoa Lakes owners may close course
The owners of Genoa Lakes are polling residents of the golf course community on alternatives that could include closing the course.
In an Aug. 11 letter, course owners Genoa Golf Group suggested several courses of action to members of the homeowners’ association ranging from closing to selling it to residents.
Genoa Lakes Golf Group Partner Fred Gartrell said the survey was developed by his partners to take the community’s temperature.
“I’m optimistic that majority of the community is interested in seeing this course remain open and going into the future,” he said. “We really don’t have an interest in closing it down. We think of it as an anchor for the Valley.”
Gartrell said only 18 percent of the club’s residents are members.
Homeowners have made it clear at their meeting with the group that they didn’t want the number of homes increased above its original approval.
“When we purchased Genoa Lakes Golf Course, we did not know about the 220-home limitation,” Group owners wrote. “It was not in the legal documents we received during our due diligence. It is common for golf course ownership to rely on real estate growth.”
Resident Jim Hartman said the 220-home limit appears in the codes, covenants and restrictions for the project. He said any effort to build on the back 9 of the course would require a master plan amendment, a zone change and a variety of other official action, including a second access, which the course currently doesn’t have.
The group purchased both Genoa Lakes courses for $3.25 million from the receiver, who Gartrell said was closing both courses at the end of January 2014 and was appointed by the lien holder Bank of America not Mario.
“The amount of our purchase price does not include the amount needed to do the maintenance that was 15 months behind,” he said. “That was $800,000.”
The transaction included the two golf courses on approximately 586 acres, about 1,961 acre-feet of water rights, six buildings and golf-course equipment.
According to the letter to residents, the owners are seeking $6 million from either a private buyer or the homeowners.
Rezoning and building single-family homes on the back nine holes, which would have a separate entrance, is another option proposed by the group. The homeowners association would take over the front nine golf course.
Another option was to require all homeowners to become social members of the golf club at $125 per month. That option includes developing additional activities to enhance the membership, according to the letter.
Golf Club owners plan to enact one of the options, including closing the course, by Oct. 25.
An effort to develop 34 acres with timeshares in 2003 was rejected by commissioners, who said the project was limited to 220 homes when it was approved in 1992.
The owners sued the county seeking to overturn the denial, but lost in district court.